North Carolina – Behind NC Tax Surge is a Tax Shift

“Well, what about that? Arthur Laffer was right about supply-side economics: Cut taxes, spur the economy and tax revenue goes up.

That, at least, is the story North Carolina’s Republican leaders will tell in this election year. They cut personal and corporate income taxes, and General Fund receipts for the first six months of the 2016 fiscal year (July to December) have increased by $588 million or 6.1 percent over the same period a year ago.”